Diesel slashed by NT$0.1 per liter, gasoline unchanged: CPC

TAIPEI, Taiwan -- State-run CPC Co. announced yesterday that effective at midnight today, the per-liter price of premium diesel will be reduced by NT$0.1, with the price of gasoline to remain unchanged.

Following the price adjustment, the domestic per-liter price of fuel will be set at NT$33.6 for 92-grade gasoline, NT$35.1 for 95-grade gasoline, and NT$37.1 for 98-grade gasoline, with the price of premium diesel to reach NT$32.4 per liter.

According to CPC, international oil prices last week surged on news of a 0.6-percent improvement in the U.S. industrial production sector, the largest gain recorded in six months. The company, however, stated that reports of the rising stockpiles of commercial-use oil stockpiles in the U.S., coupled with the Fed's reiteration of its intent to cease its quantitative easing program this fall, had sent oil prices tumbling.

CPC Co. stated that this week's price adjustment will be adjusted by 0.21 percent according to its weekly adjusted floating oil price index.